TeamHealth Holdings, Inc. (TMH) announced that the underwriters of its recent initial public offering of common stock exercised in full their over-allotment option to purchase an additional 1,995,000 shares of common stock from the company at the previously announced price of $12.00 per share.
TeamHealth intends to use the additional net proceeds of about $22.5 million to redeem, on a pro rata basis, around $20.6 million aggregate principal amount of its outstanding 11.25% senior subordinated notes due in 2013.
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